Welcome to our dedicated page for Amgen news (Ticker: AMGN), a resource for investors and traders seeking the latest updates and insights on Amgen stock.
Amgen Inc. (NASDAQ: AMGN) is a leading American multinational biopharmaceutical company, established in 1980 and headquartered in Thousand Oaks, California. As one of the largest independent biotechnology companies globally, Amgen specializes in discovering, developing, manufacturing, and delivering innovative human therapeutics. The company focuses on areas of high unmet medical need and leverages its expertise in advanced human genetics to develop solutions that dramatically improve people's lives.
Amgen's portfolio includes a range of flagship drugs such as red blood cell boosters Epogen and Aranesp, immune system enhancers Neupogen and Neulasta, and treatments for inflammatory diseases like Enbrel and Otezla. Additionally, the company has a strong presence in the oncology sector with products like Vectibix, Prolia, Evenity, and Kyprolis. Notably, the acquisition of Onyx Pharmaceuticals bolstered Amgen's oncology portfolio.
Recent launches include innovative therapies such as Repatha for cholesterol management, Aimovig for migraines, Lumakras for lung cancer, and Tezspire for asthma. In 2023, Amgen's acquisition of Horizon Therapeutics introduced several rare-disease drugs to its portfolio, including Tepezza for thyroid eye disease. Amgen also continues to expand its biosimilar portfolio, reinforcing its commitment to making advanced treatments more accessible.
Amgen's financial health is robust, with significant growth in revenues and product sales. The company's strategic partnerships and acquisitions have continually strengthened its market position. For instance, the recent Phase 3 SPROUT study demonstrated the efficacy and safety of Otezla in pediatric patients, highlighting Amgen's ongoing commitment to addressing various health needs. Furthermore, the company’s dedication to innovation is evident from its extensive pipeline of investigational drugs targeting various conditions.
Amgen has been acknowledged for its workplace culture and environmental initiatives, being named one of
Amgen (NASDAQ:AMGN) has announced a three-year sponsorship of the BioLabs LA at The Lundquist Institute to support emerging life sciences. This partnership will introduce the "Amgen Golden Ticket" award, granting one startup annual access to lab space and Amgen's resources for three years. This initiative aims to bolster the biotech ecosystem in Southern California, providing startups with essential infrastructure and mentorship. Amgen is committed to fostering innovation in areas of high unmet medical need.
Amgen (AMGN) reported strong financial results for Q4 and FY2020, with total revenues increasing by 7% to $6.6 billion in Q4, and by 9% to $25.4 billion for the full year. Product sales rose 8% in Q4, bolstered by a 13% volume growth across its portfolio. However, GAAP EPS decreased 3% in Q4 and 4% for the full year, primarily due to amortization costs from the Otezla acquisition. Non-GAAP EPS increased 5% in Q4 and 12% for the year. Amgen anticipates revenue guidance for 2021 between $25.8-$26.6 billion.
Amgen announced that its KRASG12C inhibitor, sotorasib, received Breakthrough Therapy Designation from China's NMPA, targeting patients with KRAS G12C-mutated advanced non-small cell lung cancer (NSCLC). This is Amgen's first BTD submission in China and highlights its collaboration with BeiGene. The designation follows positive results from the CodeBreaK 100 Phase 2 study, demonstrating durable anticancer activity. Sotorasib aims to be the first targeted therapy for this mutation in China, addressing a significant medical need with 3-5% of NSCLC patients affected.
Amgen (NASDAQ:AMGN) will report its Q4 and full year 2020 financial results on Feb. 2, 2021, after the close of U.S. markets. Following the announcement, a conference call will be held at 5 p.m. EST featuring CEO Robert A. Bradway and senior management. Investors and the public can access the live audio via Amgen's website. Amgen is dedicated to innovative therapeutics, leveraging advanced human genetics to address serious health issues.
Amgen's investigational drug, sotorasib (AMG 510), displayed promising results in a Phase 2 study involving 126 patients with advanced non-small cell lung cancer (NSCLC) and KRAS G12C mutations. The study revealed a confirmed objective response rate of 37.1% and disease control rate of 80.6%, with a median duration of response of 10 months. Sotorasib is the first of its kind to demonstrate positive effects in this patient population, achieving a median progression-free survival of 6.8 months. Amgen is pursuing regulatory approval across various regions, including the U.S. and Europe.
Amgen (NASDAQ:AMGN) will host a webcast call on January 29, 2021, at 8:00 p.m. ET, in conjunction with the 2020 World Conference on Lung Cancer. The call will feature Dr. David M. Reese and Amgen's clinical team discussing Phase 2 data on their investigational KRASG12C inhibitor, sotorasib, for treating non-small cell lung cancer (NSCLC). The live audio will be accessible online to media, investors, and the public, with replays available for 90 days post-event.
For more details, visit www.amgen.com.
Amgen announced significant findings from its oncology pipeline at the 2020 World Conference on Lung Cancer, focusing on sotorasib, a KRAS G12C inhibitor for advanced non-small cell lung cancer (NSCLC). The Phase 2 data from the CodeBreaK 100 study will be presented during the Presidential Symposium on January 29, 2021. These results mark a milestone in targeting KRAS mutations, addressing an unmet need for 25,000 new patients diagnosed in the U.S. annually. Amgen aims to expedite the therapy's regulatory approval as it moves forward in clinical development.
Amgen (NASDAQ: AMGN) has launched a seven-year environmental sustainability plan, aiming for carbon neutrality by 2027. The company plans to reduce water use by 40% and waste disposal by 75%. Since 2007, Amgen achieved a 33% reduction in carbon emissions even while expanding production and revenue. The initiative involves an investment of over $200 million to enhance sustainability and operational efficiencies. Innovations include biomanufacturing plants that produce 70% less carbon compared to traditional facilities, aiming to engage suppliers in carbon reduction efforts as well.
Amgen (NASDAQ:AMGN) will present at the 39th Annual J.P. Morgan Healthcare Conference on January 11, 2021, at 11:50 a.m. PT. CEO Robert A. Bradway will lead the presentation, which will be accessible live via Amgen's website. A replay will be available for 90 days post-event. As a leading biotechnology company, Amgen is focused on advancing therapies for serious illnesses by leveraging human genetics to address unmet medical needs. The company has a robust pipeline and aims to enhance health outcomes for patients globally.
Amgen has entered a licensing agreement with Medicines Development for Global Health (MDGH) for AMG 634, a PDE4 inhibitor aimed at treating tuberculosis and erythema nodosum leprosum. AMG 634 is currently in Phase 2 trials led by the Aurum Institute and The Leprosy Mission Nepal. Amgen acquired the compound during its purchase of Otezla from Celgene in 2019. MDGH will oversee further development and commercialization, with Amgen providing support for ongoing clinical trials. This collaboration aims to address unmet health needs in low- and middle-income countries.
FAQ
What is the current stock price of Amgen (AMGN)?
What is the market cap of Amgen (AMGN)?
